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ARTICLE · 06 NOVEMBER 2025

Nigeria's Exit From The Grey List: Implications For Businesses And The Financial System

Udo Udoma & Belo-Osagie
Udo Udoma & Belo-Osagie
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Udo Udoma & Belo-Osagie

Udo Udoma & Belo-Osagie

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At the October 2025 plenary meeting of the Financial Action Task Force ("FATF") in Paris, Nigeria, alongside South Africa, Mozambique and Burkina Faso, was officially removed...

NigeriaGovernment, Public Sector
Udo Udoma & Belo-Osagie
Udo Udoma & Belo-Osagie
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At the October 2025 plenary meeting of the Financial Action Task Force ("FATF") in Paris, Nigeria, alongside South Africa, Mozambique and Burkina Faso, was officially removed from the FATF's grey list of countries subject to increased monitoring for money laundering and terrorist financing ("Grey List")1 . This development marks a significant milestone in Nigeria's ongoing efforts to strengthen its anti-money laundering and counter-terrorist financing ("AML/CFT") framework and restore international confidence in its financial system.

The Grey List comprises countries that have been identified by the FATF as having deficiencies in their AML/CFT frameworks but have committed to resolving these deficiencies within agreed timeframes. Countries on the Grey List are subject to heightened international scrutiny and stricter due diligence measures from global financial institutions.

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